Sensex rallies 567 pts, Nifty nears 19,700; Realty index leaps 4%

Closing Bell on Tuesday, October 10, 2023: Sectorally, the Nifty Realty index jumped close to 4 per cent, while the Nifty PSU Bank and Metal indices added over 2 per cent each

4:11 PM

Tech View :: 'Nifty has broken out of Inverted Head and Shouler pattern'

On the hourly chart, the Nifty has broken out of an inverted head and shoulders pattern. In the short term, the index is expected to maintain its strength.

A decisive move above 19,700 points could potentially propel the index towards the range of 19,850 to 19,900. The support level is situated at 19,600.

Views by: Rupak De, senior technical analyst at LKP Securities

 

4:07 PM

Tech View :: 'Break above this level will triger short-covering in Nifty Bank'

The bulls made a strong comeback, defending the support zone of 44,000-43,800, where fresh put writing is evident.

The next immediate hurdle is positioned at 44,500, and a break above this level is expected to trigger further short covering, potentially pushing the index towards the 45,000-mark. Additionally, the momentum indicator RSI has provided a positive crossover, confirming a buy signal.

Views by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities

4:05 PM

Comment :: 'Nifty to test 19,800 now'

Nifty has finally crossed the immediate hurdle of short-term moving average (20 EMA), and we expect Nifty to test 19,800. However, the sustainability of the move would depend upon the performance of the heavyweights, especially from the banking and IT pack.

Meanwhile, mixed global cues could keep the volatility high. Amid all, traders should avoid aggressive trades and prefer a hedged approach. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

 

4:03 PM

Comment :: What supported the market rebound today?

The Indian market completely recovered yesterday's losses which was mainly due to the Hamas-Israel conflict. Moderation in crude prices and positive global cues on account of dovish remarks from Fed officials, which restrained US bond yields, aided the rebound. The domestic market's primary focus is currently on the approaching result season, with optimistic expectations on earnings.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

4:01 PM

TCS Q2 preview: Revenue, profit seen rising in single-digits; buyback eyed

In rupee terms, TCS could see a 9 per cent profit growth from last year to Rs 11,396 crore, as per a compilation of five brokerage estimates. On a QoQ basis, this could be 3 per cent higher. READ MORE

3:58 PM

Bond Market :: Yields on 10-year G-Sec slip in-line with global peers

3:55 PM

Currency check :: Rupee ends 2 paise higher at 83.25/$

3:54 PM

BSE Stats :: Market breadth stays robust

3:52 PM

Buzzing stock :: Prestige Estates rallies 9% on block deal, hits record high

3:48 PM

Buzzing stock :: GMDC vaults 20% on heavy volumes

3:45 PM

Broader markets shine; Mid, SmallCap indices rise over 1%

3:43 PM

Sectoral trends :: Broad-based rally lifts market mood

3:42 PM

Sensex heatmap :: Only 3 stocks end in red; Airtel hits record high

3:39 PM

Closing Bell :: Nifty ends near 19,700

3:38 PM

Closing Bell :: Sensex zooms over 550 points

3:25 PM

Sasken hits 52-week high; zooms 35% in one week after pact with Qualcomm

The company said its pact with Qualcomm marks a significant milestone in the realm of IoT innovation and underscores both firms' commitment in shaping the future of connected devices and services. READ MORE

3:13 PM

Not small-caps! Nifty Midcap 150 outperforms all major indexes in September

All sectors including auto, banks, consumer durables FMCG, healthcare were in the green. The Energy sector outperformed all others, surging by 6% during the month. READ MORE

3:00 PM

Indian smartphone firms having a tough time meeting PLI targets for FY24

On the other hand, global smartphone makers Foxconn (Hon Hai), Wistron, and Samsung have been meeting their targets successfully and are likely to do the same this year as well. READ

2:49 PM

ALERT: LTIMindtree bags order from Infineon Tech for SAP Transformation

2:33 PM

Adani's $3.5 bn Ambuja loan moves ahead after some banks get approval

A group of banks that have been in talks to lend about $250 million each toward a syndicated loan of about $3.5 billion to refinance debt which the Adani Group took out to fund its purchase of Ambuja Cements Ltd. have received internal approval for the deal, according to people familiar with the matter. READ

2:22 PM

BREAKING :: China govt mulling stimulus plan

2:16 PM

Crude steel output grows to 70 MT in Apr-Sep; trend to continue: SteelMint

India's crude steel production rose 14.7 per cent to 69.65 million tonne (MT) during April-September period of 2023-24 fiscal year, according to SteelMint India. READ

2:00 PM

IMF raises India FY24 GDP growth forecast by 20 basis points to 6.3%

The International Monetary Fund (IMF) on Tuesday raised its FY24 growth projection for India by 20 basis points to 6.3 per cent, citing stronger-than-expected consumption between April and June. READ

1:42 PM

GMDC soars 15% on heavy volumes; stock more-than-doubled in 2 months

CARE Ratings believes that GMDC will continue to maintain its dominant market position in the lignite mining business with a healthy operating performance backed by sales volume growth. READ

1:30 PM

Liquor industry welcomes decision to keep key alcohol ingredient out of GST

The ingredient, extra-neutral alcohol, accounts for 30-35% of the production cost for Indian-made foreign liquor. READ

1:17 PM

Hong Kong eyes stronger economic, trade ties with Thailand to expand role

Srettha arrived in Hong Kong on Sunday for a three-day trip. He met with officials and business leaders including Bernard Chan and Allan Zeman, according to his post on the X platform. READ

1:04 PM

Comment:: Buy the dips caused owing to Israel-Hamas conflict

"The Israel-Hamas conflict, though intense, is limited to a very specific area and is unlikely to trigger an immediate market reaction. During geopolitical turmoil, investors tend to make safer choices and gravitate towards precious metals. At the same time, they do not abandon equities either, as they expect them to perform better once stability returns. Specifically, from an Indian market perspective, economic growth remains robust. Investors may view any market dip as an opportunity."

 

- Sarvjeet Virk, Co-Founder & MD, Finvasia 

 

12:54 PM

ALERT:: Vascon Engineers wins RS 353 cr order; stock up 3%

Vascon Engineers in an exchange filing said, the company has received Letter of Acceptance amounting to Rs 352.91 crore from Jharkhand State Building Construction Corporation Limited, for remaining work of Construction of Medical College and Upgradation of District Hospital at Koderma.

 

12:42 PM

Watch out! Some big banks are reducing FD rates and increasing loan rates

The increase in HDFC Bank's MCLR comes even as the RBI kept policy repo rate unchanged at 6.50 per cent for the fourth time in a row last week. READ MORE

12:28 PM

Stock of this telecom equipment company has zoomed over 200% in 5 months

Shares of Avantel surged 20 per cent to hit a new high of Rs 306 on the BSE in Tuesday's intra-day trade, after the board recommended issue of bonus shares in the ratio of 2:1. READ MORE